News from Seattle's Office of Economic Development

Thriving small and minority businesses are essential elements of the Puget Sound regional economy – and the economic recovery is creating many opportunities for established business owners as well as entrepreneurs.

The 5th annual Small and Minority Business Conference , to be held Friday, May 21st at the Grand Hyatt Seattle, provides resources and guidance to help small and minority-owned businesses tap into the economic power. All corporations, business, nonprofit and government professionals are encouraged to attend.

Consumer confidence rises to 57.9 in AprilSeattle Times
Americans’ confidence in the economy rose in April to its highest level since September 2008, just as the financial crisis escalated, according to a private research group.

Clean energy and health care among the six industries poised to grow Wall Street Journal
SmartMoney spoke with business owners, venture capitalists and analysts for a snapshot of six industries poised for growth.

Annual Small and Minority Business Conference returns on May 21stSmall Business Partners for Prosperity
Thriving small and minority businesses are essential to the Puget Sound regional economy. This one day annual conference features resources and guidance to help small and minority businesses tap into opportunities and capital. Register before May 1st for a reduced rate.

___________________________________________________________

As a service to the Seattle business community, the Office of Economic Development curates a daily business news blast, Daily Digest. As a new trial feature on Bottom Line, we’re posting a handful of stories from the Daily Digest every day. Find the stories informative or helpful? Keep checking Bottom Line or sign up for Daily Digest to receive the full version in your inbox every day. Subscribe to the Daily Digesthere.

Saving Pioneer Square by teaching it some old tricksCrosscut
Washington’s Main Street program, designed to help commercial districts redevelop and rebound, survived draconian state budget cuts, barely. Developer Kevin Daniels has suggested that Main Street could provide an organizing catalyst for renewing Pioneer Square, a district receiving the attention of the city’s Office of Economic Development.

Gates Foundation grants push community college reformsKPLU
Most students who enroll at a community college lack the basic skills needed to succeed in school. New research from the Bill and Melinda Gates Foundation shows 2-year colleges need to reform their remedial education programs to improve low graduation rates.

Resources, templates abound at Inc. library of small business toolsInc.
Inc.com’s sizeable library of small business tools includes sample forms, job description templates, interactive worksheets, spreadsheets, and contracts, including 100 tools from DocStoc posted just this week.

___________________________________________________________

As a service to the Seattle business community, the Office of Economic Development curates a daily business news blast, Daily Digest. As a new trial feature on Bottom Line, we’re posting a handful of stories from the Daily Digest every day. Find the stories informative or helpful? Keep checking Bottom Line or sign up for Daily Digest to receive the full version in your inbox every day. Subscribe to the Daily Digesthere.

New financing markets offer a ray of hope to credit-starved small firmsThe Economist
With bank finance tight, businesses are expected to turn to less orthodox forms of lending. As one example, “invoice discounting” can be a big help to small firms, which typically have half of their working capital tied up in accounts receivable.

Social Media Conference: Build trust, respect time, tell a storyTechFlash
TechFlash asked Angelynn Talcott, director of marketing for the Puget Sound Business Journal and TechFlash, to share her biggest takeaways from the Social Media 201 conference Thursday in Redmond.

Dining deals and specials abound during Seattle Restaurant WeekSeattle Restaurant Week
This April 18th to 29th is Seattle Restaurant Week, which means that more than 100 local restaurants are serving up three-course dinners for just $25.00 – and many restaurants are offering three-course lunches for just $15.00.

___________________________________________________________

As a service to the Seattle business community, the Office of Economic Development curates a daily business news blast, Daily Digest. As a new trial feature on Bottom Line, we’re posting a handful of stories from the Daily Digest every day. Find the stories informative or helpful? Keep checking Bottom Line or sign up for Daily Digest to receive the full version in your inbox every day. Subscribe to the Daily Digesthere.

As a service to the Seattle business community, the Office of Economic Development curates a daily business news blast, Daily Digest. As a new trial feature on Bottom Line, we’ll be posting a handful of stories from the Daily Digest every day. This sampling is demonstrative of the incredible breadth of business activity going on every day in Seattle and in the region.

Find the stories informative or helpful? Keep checking Bottom Line or sign up for Daily Digest to receive the full version in your inbox every day. Subscribe to the Daily Digest by clicking here.

Seattle job market on the mend – growth at 21 percent in MarchWaveLength Market Analytics
According to the WaveLength Tech Jobs Composite, Seattle’s job market is well on the mend. Seattle’s indices have only gone up, suggesting that data collection likely began at the absolute bottom of hiring demand.

Seattle SBA district says lending up ‘significantly’Puget Sound Business Journal
The Seattle district for the Small Business Administration said the number of SBA loans increased “significantly” in the first two quarters of the federal government’s fiscal year 2010, compared with the same time a year earlier.

Government must cultivate the conditions for job creationNew York Times
President Obama recently noted that, by itself, government cannot replace the 8.2 million jobs lost over the past two years. What government can do, he said, is “help to create the conditions” for renewed hiring.

Do you need some last minute help with your taxes? StartZone offers FREE tax preparation workshops and filing assistance to self-employed individuals in King County. In addition to the tax preparation workshops, they also offer Super Saturdays and the opportunity to schedule an appointment to meet with a trained tax specialist.

StartZone’s Super Saturday events provide the opportunity for the public to walk in, meet with trained and supervised volunteers who can help prepare your Schedule C tax form, and then have your taxes completed and filed.

The 13th Annual Washington Small Business Fair is packed with great information for current and prospective small business owners – ALL FREE. “Biz Fair” delivers valuable information and counseling from experts covering a broad range of business needs.

The Washington Small Business Fair is scheduled for Saturday, September 12, 8:00 a.m. to 3:30 p.m. at Renton Technical College, 3000 NE 4th Street, in Renton. At Biz Fair 2009, over 50 seminarss will be given, including a mid-day panel session moderated by the Office of Economic Development’s Tina Vlasaty, with business experts sharing tips and stories on how to survive when the economy is down and be ready when rebound arrives.

More than 30 non-profit and government organizations, including trade associations and local chambers of commerce, will also be on-hand all day long to provide powerful resources and networking opportunities. Previous Biz Fair events have drawn approximately 600-1,000 new and existing small business owners from around the state. Due to the down economy, they are expecting a large crowd this year.

Small businesses are a vital part of Seattle’s economy – and this week, many will receive tax relief from new business and occupation (B&O) tax legislation. Mayor Greg Nickels has signed legislation raising the threshold for the amount of gross income a business earns before paying B&O taxes in Seattle to $100,000, from the current $80,000. The legislation was passed by the City Council last week.

“This is the right action at the right time to help more of our small businesses weather the current economic downturn. I applaud the Council for taking this step to help our local businesses and economy,” said Nickels.

The current legislation will affect about 3,000 small businesses, saving them about $500,000 in 2010.

“We are a local family-owned restaurant located close to the Mt. Baker Station with three employees, and this tax break will help our business,” said Yilikal Ademe, owner of Café Ibex.

Small businesses are vital to Seattle’s diverse economy. They create jobs, add character to our neighborhoods, and provide unique local products and services. Here’s a great way to recognize a small business that contributes to the economic vitality and quality of life in Seattle.

Beginning today, the Office of Economic Development is accepting nominations for the 2009 Mayor’s Small Business Awards, presented by Wells Fargo. The Mayor’s Small Business Awards have honored the diversity and excellence of small businesses in Seattle for more than 20 years.

Over the last two decades, the awards program has recognized more than 240 small businesses, including Starbucks Coffee Company (1984), Uwajimaya (1984), Ezell’s Fried Chicken (1989), the Dilettante (1990) and City People’s Mercantile (1993).

The deadline to submit nomination forms is Wednesday, September 2, 2009. Winners will be announced at a ceremony at Town Hall on October 13, 2009.

Many resources are available for small businesses in Washington, but it can be hard to know where to look. A new, comprehensive guide from the Washington State Department for Community, Trade and Economic Development (CTED) is an important tool for small businesses at all stages of development.

The CTED guide provides small business owners and entrepreneurs with instantly accessible information on important federal, state, and local agencies, business associations, economic development centers, government contracts, Innovation Partnership Zones, and more. It also provides tools and resources for developing a business plan and business structure.

In support of green practices, the guide will only be published electronically. Click here to access the CTED guide and other business resources.